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European Commission VP to take up new post in World Bank

Xinhua, October 29, 2016 Adjust font size:

European Commission Vice President Kristalina Georgieva is going to take up a new post as Chief Executive Officer (CEO) of the World Bank in January 2017, the Commission said on Friday.

The Bulgarian commissioner, responsible for Budget and Human Resources since 2014, has informed the Commission of her resignation from the current post in order to take up a new post as CEO of the World Bank as of Jan. 2, 2017.

"It is with great regret that I have accepted Kristalina Georgieva's decision to resign from the European Commission," European Commission President Jean-Claud Juncker said in a statement.

Juncker described Kristalina Georgieva as "an experienced politician" and thanked for her "loyal and committed work."

The European Commission president said he has asked Gunther H. Oettinger, Commissioner responsible for Digital Economy and Society, to succeed Kristalina Georgieva in her portfolio.

After the current vice-presidents, Germany's Oettinger is the first commissioner in seniority and protocol order in the Commission.

Georgieva's resignation will take effect at the latest on Dec. 31, 2016, depending on the development of the ongoing budgetary negotiations.

Georgieva has recently lost in the race to become next United Nations secretary-general, and she worked at the World Bank between 1993 and 2010. Endit